Today, Luno cryptocurrency exchange platform announced that users will be able to deposit and withdraw in Naira, starting from November. This is the 8th month after the Central Bank of Nigeria (CBN) prohibited crypto trading in the country.
Below is the sample of the email sent to users by Luna. It read thus;
We’re thrilled to announce that deposits and withdrawals in Naira will resume on the Luno platform in November 🚀
You will be able to deposit and withdraw funds to and from the Luno platform using vouchers purchased and redeemed through a trusted third party provider.
We believe that this is the safest and easiest-to-use solution currently available to our customers in Nigeria and look forward to you experiencing it for yourselves.
Luno does not set the price of bitcoin or any cryptocurrencies, we only facilitate transactions between customers.
The return of Naira deposits and withdrawals may cause significant price volatility, with the release of pent-up customer demand to buy and sell cryptocurrency causing unusual market behaviour that could last for several weeks.
Stay tuned for more details about the voucher solution and how to use it in the coming weeks!
What do you think about this late move by Luno? You can share your thoughts with us in the comment.